Crude Oil Edges Lower; Smith & Wesson Brands Shares Spike Higher
Portfolio Pulse from Lisa Levin
US stocks traded lower with the Dow Jones dropping around 200 points on Friday. The S&P Global manufacturing PMI dropped to 46.3 in June from 48.4 in May. Shares of TRxADE HEALTH, Conformis, and Smith & Wesson Brands spiked higher, while Beyond Air, Virgin Galactic Holdings, and SMX Public Limited Company shares dropped.
June 23, 2023 | 7:53 pm
News sentiment analysis
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NEGATIVE IMPACT
SMX Public Limited Company shares fell 61% to $0.1755 after the company reported pricing of a $3.2 million public offering of 13,333,333 shares and warrants at a price of $0.24/share.
SMX shares fell significantly after the announcement of the public offering, which is priced below the current share price. This is likely to have a negative short-term impact on the stock.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Virgin Galactic Holdings shares were down 19% to $4.33 after the company announced another at-the-market stock offering of $400 million to raise capital, which would be dilutive to shares.
Virgin Galactic shares dropped after the announcement of the stock offering, which would dilute existing shares. This is likely to have a negative short-term impact on the stock.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Beyond Air shares dropped 19% to $4.6350 after the company posted a wider-than-expected fourth-quarter loss.
Beyond Air shares fell after the company reported a larger-than-expected loss for the fourth quarter. This is likely to have a negative short-term impact on the stock.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
Conformis shares surged 87% to $2.17 after agreeing to be acquired by restor3d for $2.27 per share in cash.
Conformis shares surged after the acquisition announcement, which offers a premium to the current share price. This is likely to have a positive short-term impact on the stock.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
TRxADE HEALTH shares shot up 12% to $8.18 after Superlatus signed a binding letter of intent to be acquired by TRxADE HEALTH.
TRxADE HEALTH shares rose after the announcement of the acquisition of Superlatus, which is likely to have a positive short-term impact on the stock.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
Smith & Wesson Brands shares gained 20% to $13.51 after the company reported a fourth-quarter earnings beat and raised its quarterly dividend.
Smith & Wesson Brands shares rose after the company reported better-than-expected earnings and raised its dividend. This is likely to have a positive short-term impact on the stock.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100